The German government sells out all Bitcoins and wallet balances return to zero! A total of 50,000 BTC were sold
- WBOYOriginal
- 2024-07-16 13:16:07550browse
This site (120BtC.coM): Since June 19, German government-related wallets have frequently transferred large amounts of Bitcoin to exchanges and market makers such as Coinbase, Kraken, and Bitstamp for sale. It is believed that In addition to the Mt. Gox exchange starting repayments, this is another main reason for the recent decline of Bitcoin.
The German government has completed its liquidation
Arkham, an on-chain data tracking platform, issued a document in the early morning of this morning (13th) stating that the Bitcoin balance of the address related to the German government has been exhausted.
"The German government just sent 3846.05 BTC (worth approximately $223.81 million) to FlowTraders and 139Po (possibly an institutional deposit/OTC trading service). The German government address has 0 BTC left."
The German government cleared about 50,000 coins BTC, $3.3 billion in pocket
According to Lookonchain monitoring data, it took 24 days for all 50,179 Bitcoins (approximately $3.3 billion) held by the German government to be cleared.
“The German government transferred 9,594 BTC ($553.7 million) and received 500 BTC ($28.6 million) in the past 24 hours and currently does not hold any BTC!”
Bitcoin drops below $58,000
After the German government announced the liquidation news early this morning, or affected by related selling pressure, BTC, which once exceeded 58,527 US dollars in the early morning, fell 2.36% in two hours, reaching the lowest level of 57,144 US dollars. At the time of writing, it stood back to 57,832 US dollars, nearly 24 It rose 1.09% hourly.
Some people believe that the German government’s impact on the market has gradually slowed down, and Bitcoin’s decline may have hit the bottom. However, on-chain data analyst Yu Yan reminded us to pay attention to the repayment selling pressure of Mt. Gox. He pointed out earlier today: "The market should mainly focus on Mentougou's performance next."
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